Noida: The Yamuna Expressway Industrial Development Authority (YEIDA) informed about a proposal from a US based company which expressed its desire to build an “American City”. The project has sought 1,200 acres of land for building world class educational institute which will also provide facilities for performing arts and cultural ethos. The land area where the project proposes to build the city is near the Noida International Airport in Jewar along the Yamuna Expressway between Greater Noida and Agra.
Arun Vir Singh, CEO, YEIDA, said that the American company’s proposal has been given in-principle approval. The authority has instructed the related officials to provide the required land to the company along Yamuna Expressway in sectors 22D, 22E, 5, and 5A.
Singh said, “We had a meeting with the US based company on October 29. It asked for 1,200 acres of land for developing a world-class educational institute which will have facilities for performing arts and cultural ethos. The venture will be a joint partnership of some of the top US universities. The universities were represented by US-based consultancy firm Blue Sky Vantage which submitted the proposal.”
Company plans to spend more than 33,000 crore in six years
According to the YEIDA officials, for this mega educational project, the American company wants to invest $ 4 billion (33,635.4 crore) in the next six years. Singh said, “They inspected several cities but ultimately chose our area for building an “American City” spread over 1,200 acres of land. They want a minimum of 1,000 acres with multiple use land where they can develop different facilities like economic activity ventures, commercial towers and institutions of international standards.” The officials also added that the group also asked for 100 acres in Sector 22D for group housing and 100 acres in 22E for a university.
Plan for Japanese and Korean City also rolled out
Previously YEIDA shared its intent for setting up a Japanese City in Sector 5A and a Korean City in Sector 4A. Singh said, “The Japanese City will be allotted 395 hectares in Sector 5A while the Korean City will be allotted 365 acres in Sector 4A. Their connectivity to Jewar Airport will gear up both the projects. The residential units will also be there for the staff of these countries.”
